National Bank of Dominica Ltd., Grenada Co-operative Bank Limited, St. Kitts-Nevis-Anguilla National Bank Ltd and Bank of St. Vincent and the Grenadines Limited signed an agreement to acquire Branches and Banking Operations in Dominica, Grenada, St.

Kitts and Nevis, and the Grenadine from FirstCaribbean International Bank Limited (TTSE:FCI) on October 12, 2021. Until regulatory approvals are obtained and the transaction closes, operations at all institutions will continue as they currently do. The transaction is subject to regulatory approval and customary closing conditions.

The Consortium looks forward to working with CIBC FirstCaribbean to finalize the transaction over the coming months. As of July 15, 2022 FirstCaribbean International Bank Limited has received the regulatory approval to sell banking assets to St. Kitts-Nevis-Anguilla National Bank Limited andBank of St.

Vincent and the Grenadines Ltd and The proposed sale of assets in Dominica to National Bank of Dominica Ltd. will not proceed as there is change in strategic direction. Parties are still to negotiate key aspect for the assets to Grenada Co-operative Bank Limited and remain subject to regulatory approval. The Bank of St Vincent and the Grenadines Limited also acted as an agent in the transaction.

Raymond Haynes, Financial Advisory of Deloitte & Touche in Barbados acted as financial advisor to consortium and Mary Mahabir of Lex Caribbean acted as legal advisor to consortium in the transaction.